AT&T, Ford And Verizon All Drop By More Than 5%: Not A “Broadening Out” Rally

AT&T
T
, Ford and Verizon each dropped by more than 5% by the close of Monday’s session of trading. Although the Dow Jones Industrials, the Standard and Poor’s 500 and the NASDAQ
NDAQ
-100 ended the day in the green, it’s unusual and different to see big name brands refuse to go along with the action — to put it mildly.

Not only that, but this loss in these huge market capitalization stocks also comes at a time when some in the financial media have begun talking about how a “broadening out” from just the tech sector is beginning to unfold. Today’s lack of buying in these 3 majors would seem to run counter to that narrative.